October, known as "Uptober" in the crypto world, is living up to its reputation. Market forecasts indicate explosive trends : XRP is poised to break the $3 mark, Bitcoin shows signs of hitting close to $120,000, and Shiba Inu (SHIB) may signal a significant bullish comeback.
Currently, XRP is flirting with a critical resistance just below $3, a level that has presented a strong barrier during previous bullish attempts. According to technical indicators, breaking through this threshold would constitute a major bullish signal in the market.
XRP is trading above its 50-day exponential moving average, which indicates renewed buyer interest in the short term. The asset is also testing a descending trendline, coupled with a confluence of moving averages. If XRP breaks the resistance at $3 clearly and sustainably, the next technical targets would be around $3.20 or even $3.50. Nevertheless, a pullback towards $2.84 or even $2.61 remains possible in the absence of a fundamental catalyst.
Bitcoin (BTC) has now crossed the psychological threshold of $120,000, but this meteoric rise is beginning to worry some investors. BTC has forcefully broken through its 50 and 100-day moving averages, while the RSI has exceeded 70, a typical signal of an overextended market.
In this macroeconomic context marked by inflation and political instability in the United States, traditional investors are seeking alternative safe havens. Historically, such contexts benefit Bitcoin, considered an “anti-system asset.” The next targets in case of a breakout are between $124,000 and $126,000. But a failure above $120,000 could send the price back towards support levels at $114,000 or even $106,500.
Shiba Inu, often considered a speculative token, could be emerging from its prolonged wait-and-see phase. The cryptocurrency is currently testing a crucial technical resistance around $0.000012, a threshold that has historically played a pivotal role in its price dynamics.
SHIB is evolving in a symmetrical triangle pattern, a sign of liquidity accumulation ready to explode. Its 50 and 100-day moving averages are also creating combined pressure on the price. In case of a breakout above $0.000012, the next levels to target would be $0.0000136 then $0.000014. But a new consolidation towards $0.0000114 is possible in case of rejection.
Crypto market forecasts outline divergent scenarios for XRP, Bitcoin, and Shiba Inu. Investors should remain cautious while closely monitoring major technical breakouts. Volumes, Bitcoin dominance, and global macroeconomics will play a decisive role in what happens next.
Gaston has been a writer for over 7 years and a passionate cryptocurrency enthusiast since 2020. He loves exploring the crypto ecosystem and is now dedicated to sharing his insights and discoveries through InvestX.
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